Vladmir Putin says sanctions hurt Russian economy, but not critically

Russian President Vladimir Putin said on Thursday that sanctions were hurting the Russian economy but that the damage was not critical.

"Overall they are causing (damage), because (credit) ratings are being reviewed, loans could become more expensive and so forth. But this is of no critical character," Putin said of sanctions imposed over Russia's annexation of Crimea.

Putin also condemned the use of sanctions as an instrument of interstate policy on Thursday, saying they damage all concerned and reflect badly on those who impose them.

"Overall they are harmful for everyone, they destroy the global economy (and) are dishonourable on the part of those who use those types of tools," Putin said.